Menomonee Falls-based Kohl's Corp. today reported that its comparable store sales increased 0.6 percent in January compared to the same month a year ago.
Kevin Mansell, Kohl's chairman, president and chief executive officer, said, "January's sales were in-line with our expectations. I am pleased to report that we achieved our goal of $1 billion in E-Commerce revenues in fiscal 2011. The E-Commerce business was a key contributor to our fiscal 2011 sales performance and we plan to build on its momentum in 2012. Additionally, strong expense management during the quarter contributed to better-than-expected profitability."
As a result of its January performance, the company is increasing its fourth quarter diluted earnings per share guidance from $1.70 - $1.73 to $1.79 - $1.80 and its fiscal 2011 guidance from $4.20 - $4.23 per diluted share to $4.29 - $4.30 per diluted share.
The company operates 1,127 stores in 49 states, compared with 1,089 stores at the same time last year.
Other retailers reporting national comparable store sales for January today included: Saks Inc., up 10.5 percent; The Limited, up 9.0 percent; Costco, up 8.0 percent; Target Corp., up 4.3 percent; Macy's Inc., up 2.4 percent; Bon-Ton Stores Inc., down 3.5 percent; and The Gap, down 4.0 percent.
Kohl’s raises earnings guidance
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